The Solution You Need to Say ‘Yes’ to More Borrowers
April 19, 2022
For credit unions, a key component of their “People Helping People” mission is providing the best possible member experience, which includes making fair and transparent credit decisions.
Loans are one of the most critical services credit unions provide, so they must be able to safely approve loans while mitigating risk and adhering to fair lending practices. Making that process more seamless than ever is Zest AI, a new Strategic Link partner that is eager to bring its award-winning technology to more Northwest credit unions.
Zest AI understands that credit unions cannot compromise lending standards. That’s why it engineered software offering powerful new risk models tailored to credit union markets, generating best-in-class borrower assessments for auto lending, credit cards, and personal loans. The ability to approve more members, more quickly, results in operational efficiency and a convenient borrower experience.
“Northwest credit unions are always looking for ways to say ‘Yes’ to more members,” said Cameron Smith, VP of Strategic Partnerships and Resources at NWCUA. “Zest has earned the trust of dozens of credit unions by delivering significant value in the form of faster approvals and more inclusive decisions.”
Zest AI-built models leverage numerous data points and sophisticated mathematical analysis to safely approve more members, many of which are often overlooked by legacy scoring. Credit unions using Zest AI software are achieving five-fold increases in instant-decisioning rates and 25% to 30% higher approvals with no added risk. The solution supports credit unions’ goal to promote financial inclusion by developing deep insights into the credit and loan histories of members in the markets they serve.
“We’re honored to be working with a great organization like NWCUA to bring AI-driven lending to credit unions of all sizes,” says Jose Valentin, Vice President of Corporate Development at Zest AI. “This partnership will pay off for millions of hard-working families in the form of wider access to more affordable credit.”
Using data that credit unions already have allows increased quality forecasting and service with fast, accurate, and consistent decisions. AI-driven lending with Zest takes the wisdom of the best underwriters and handles decisioning with the speed of technology, allowing your team to spend more time helping potential borrowers.